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Closely and personally with online loans The number of start-ups on-line is growing in all credit categories and there are possibilities to combine peer-to-peer credit schemes with mainly bank based bank based credit schemes. There is enormous upward momentum in on-line credit across all credit categories. Competition in this sector demands full automation of the credit approval processes while closely integrating on-line and off-line servicing canals.

Creditors who are unable to deliver an optimized and seamless customer experiences will be poorly served by their on-line initiative. More and more on-line borrower are technically adept ( especially repeated borrower ) and appreciate the importance of the web for the amount of free space and cash it can give them. Immediate creditors such as Quicken Loans, E-Loan or ING direct, which deliver price transparency and lower cost, already make up over 27% of on-line mortgages in retailing and will remain strong.

Major credit providers such as Countrywide, Wells Fargo and Bank of America are also reacting aggressive to the on-line opportunities and holding the predominant portion of credit to private customers. Prospective peer-to-peer credit institutions such as Prosper, Zopa and Circle Leasing have also been encouraged by the advent of the web to take up part of the volume of credit available on-line.

"Clients are expecting added value from the choice of on-line channels, such as the removal or removal of hard copy documentation, the possibility to fully monitor the progress of their credit applications, quicker turnaround and approvals due to rationalised back-office operation, and lower prices," says Madhavi Mantha, co-author and senior researcher.

"Maybe the ultimative example of how intensive face-to-face credit has become on-line is peer-to-peer credit. The personalisation of on-line credit has given these people an increasing opportunity to select who to loan from, who to loan from and what risks they should take when they invest their funds as their own lenders.

Peer-to-peer financiers have shown that there is a burgeoning credit market," says Dan Schatt, co-author and seniors researcher. An index is available on-line.

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